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During 2011, XYZ Corporation wrote offaccounts receviable totalling $25,000 and made sales, all on accounts, of $710,000. Oher information about the company's sales activities follows:
In addition in Feb2011 XYZ accepted a $ 6000 note for a cusome whose a/c was over due. King collected $2,300 on this note during Dec 2011. Required: Prepare a schedule showing he amount of cash collected from customer during 2011.
The amount of unrealized intercompany profit in ending inventory at December 31, 2006 that should be eliminated in the consolidation process is:
In the United States, about one in every four companies uses variable costing for internal reporting purposes. These companies must make adjustments to these reports for external-reporting purposes. Explain.
addison inc. made a 20000 sale on account with the following terms 210 n30. if the company uses the net method to
Journal entries and trial balance On October 1, 2012, Faith Schultz established Heavenly Realty, which completed the following transactions during the month: a. Faith Schultz transferred cash from a personal bank account to an account to be used f..
the following are selected accounts and balances from the records of ganster corporation on june 30 2012. common stock
For consolidation purposes, does the direction of the transfers (upstream or downstream) affect the balances to be reported here? Prepare a consolidated income statement for the year ending December 31, 2004.
Nancy gave her grandson, Sean, twenty acres of land. Her tax basis in the land was $25,000. Nancy's marginal tax rate for the current year is 45%; her grandson's is 25%.Its fair market value was $575,000 at the date of the transfer.
during 2014 deluca company had net sales of 5700000. most of the sales were on credit. at the end of 2014 the balance
why is the distinction between deductions for agi and deductions from agi important for individuals?al capones
as an audit manager. one of your responsibilities is to generate new business.you have been approached by a potential
explain the importance in critical accounting theory of assumptions regarding the distribution of power in society. how
ontario resources a natural energy supplier borrowed 80 million cash on november 1 2013 to fund a geological survey.
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